Marquette Savings Bank Mortgage Rates, Fees & Info

Erie, PA

LEI: 549300IL0IHBRVBZKO13

Tax ID: 25-0640196

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Review & Overview

Marquette Savings Bank is a smaller bank specializing in Refi and Home Purchase loans. Marquette Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Erie, Meadville, Oil City, Youngstown, and Warren among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

Marquette Savings Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Marquette Savings Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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SimulatedRates™ Mortgage Type	Simulated Rate	Simulation Date
30 Year Conventional Purchase	6.57%	12/2/24
30 Year Conventional Refi	6.58%	12/2/24
30 Year Cash-out Refi	6.27%	12/2/24
15 Year Conventional Purchase	6.03%	12/2/24
15 Year Conventional Refi	5.78%	12/2/24
15 Year Cash-out Refi	5.78%	12/2/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Marquette Savings Bank Mortgage Calculator

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This is not an official calculator from Marquette Savings Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.

Originations

923

Origination Dollar Volume (All Markets)

$132,945,000

Employee count

135

Awards

Marquette Savings Bank 30 Year Conventional Loans gold

Marquette Savings Bank 30 Year Conventional Loans bronze

Show all (3) awards

Top Markets

Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

Market	Originations	Total Value	Average Loan	Average Fees	Average Rate
ERIE, PA (FHA\|USDA\|VA)	664	$100,140,000	$150,813	$2,006	3.53%
Meadville, PA (FHA\|USDA\|VA)	241	$30,745,000	$127,573	$1,476	3.59%
Oil City, PA (FHA\|USDA\|VA)	6	$900,000	$150,000	$1,832	3.94%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA\|USDA\|VA)	7	$565,000	$80,714	$2,202	4.76%
Warren, PA (FHA\|USDA\|VA)	3	$325,000	$108,333	$1,908	4.00%
PITTSBURGH, PA (FHA\|USDA\|VA)	2	$270,000	$135,000	$1,847	3.06%

Marquette Savings Bank's top markets include Erie, Meadville, Oil City, Youngstown, and Warren among others.

Their top states include:

Pennsylvania (FHA|USDA|VA)

Similar Lenders

We use machine learning to identify the top lenders compared against Marquette Savings Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

Widget Federal Credit Union
Similarity Rank: 40

Marquette Savings Bank
Similarity Rank: 204

ERIE FEDERAL CREDIT UNION
Similarity Rank: 392

PENNSYLVANIA STATE EMPLOYEES Credit Union
Similarity Rank: 532

FIRST HERITAGE FINANCIAL, LLC
Similarity Rank: 638

HOWARD HANNA FINANCIAL SERVICES, INC.
Similarity Rank: 1440

CNB Bank
Similarity Rank: 1950

TIDEWATER MORTGAGE SERVICES, INC.
Similarity Rank: 3219

HOMESTEAD FUNDING CORP.
Similarity Rank: 3375

AMERISAVE MORTGAGE CORPORATION
Similarity Rank: 3392

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	923	$132,945,000	$144,036	$1,864	3.56%

For 2020, Marquette Savings Bank's most frequently originated type of loan was Conventional, with 923 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Refi	377	$55,975,000	$148,475	$1,117	3.37%
Home Purchase	369	$58,845,000	$159,472	$2,985	3.83%
Cash Out Refi	76	$12,340,000	$162,368	$2,775	3.09%
Home Improvement	51	$3,235,000	$63,431	$190	3.84%
Other	50	$2,550,000	$51,000	$188	3.41%

For 2020, Marquette Savings Bank's most frequently cited loan purpose was Refi, with 377 originations. The 2nd most popular reason was Home Purchase, with 369 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	268	$40,850,000	$152,425	$2,654	3.73%
15 Year	253	$33,265,000	$131,482	$1,528	3.55%
20 Year	169	$24,935,000	$147,544	$1,257	3.67%
10 Year	115	$12,075,000	$105,000	$621	3.35%
5 Year	48	$2,270,000	$47,292	$116	2.98%
30+ year	43	$14,335,000	$333,372	$5,986	3.48%
Other	25	$5,205,000	$208,200	$2,347	3.28%
1 Year	1	$5,000	$5,000	$96	4.13%
3 Year	1	$5,000	$5,000	$68	3.13%

For 2020, Marquette Savings Bank's most frequently cited loan duration was 30 Year, with 268 originations. The 2nd most popular length was 15 Year, with 253 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	821	$107,555,000	$131,005
$2k-3k	28	$8,410,000	$300,357
$1k-2k	25	$4,655,000	$186,200
$3k-4k	7	$3,075,000	$439,286
$5k+	4	$2,770,000	$692,500

Marquette Savings Bank's average total fees were $2,654, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 821 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
3-4%	592	$91,110,000	$153,902
2.5-3%	193	$28,445,000	$147,383
4-5%	71	$8,015,000	$112,887
5-6%	51	$3,395,000	$66,569
6-7%	13	$635,000	$48,846
<2.5%	3	$1,345,000	$448,333

During 2020, Marquette Savings Bank's average interest rate for loans was 3.73%, while their most frequently originated rate bucket for loans was 3-4%, with 592 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	399	$23,725,000	$59,461	$946	3.81%
$100k-200k	312	$43,710,000	$140,096	$2,033	3.41%
$200k-400k	180	$46,580,000	$258,778	$3,046	3.31%
$400k-600k	22	$10,770,000	$489,545	$4,499	3.35%
$600k-1MM	10	$8,160,000	$816,000	$6,481	3.30%

2020 saw Marquette Savings Bank place emphasis on $100,000 or less loans with 399 originations, totaling $23,725,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	199	$33,365,000	$167,663	$2,013	3.43%
$75k-100k	186	$25,070,000	$134,785	$1,852	3.44%
$50k-75k	176	$18,190,000	$103,352	$1,714	3.57%
$50k or less	171	$12,715,000	$74,357	$1,485	3.94%
$150k-250k	101	$20,595,000	$203,911	$2,462	3.36%
$250k+	46	$16,190,000	$351,957	$2,651	3.34%

Marquette Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 199 originations. The second most popular income band? $75k-100k, with 186 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	292	$40,870,000	$139,966	$1,815	3.46%
30-36%	207	$27,695,000	$133,792	$1,773	3.69%
<20%	149	$21,135,000	$141,846	$1,718	3.32%
37%	60	$8,340,000	$139,000	$1,903	3.66%
36%	36	$5,280,000	$146,667	$1,841	3.80%
38%	36	$4,630,000	$128,611	$1,951	3.46%
39%	32	$5,130,000	$160,313	$2,020	3.58%
41%	24	$4,410,000	$183,750	$2,625	3.74%
40%	17	$2,375,000	$139,706	$2,253	3.41%
42%	16	$3,400,000	$212,500	$2,765	3.78%
43%	7	$1,555,000	$222,143	$1,337	3.46%
44%	4	$390,000	$97,500	$2,714	3.27%
47%	3	$435,000	$145,000	$2,656	3.46%
46%	3	$505,000	$168,333	$3,121	3.83%
48%	3	$575,000	$191,667	$2,830	3.58%
45%	2	$180,000	$90,000	$1,516	3.00%
>60%	1	$155,000	$155,000	$0	4.38%
49%	1	$225,000	$225,000	$3,282	2.75%
50-60%	1	$525,000	$525,000	$0	4.25%

Marquette Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 292 originations. The next most common DTI ratio? 30-36%, with 207 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	839	$119,785,000	$142,771	$1,885	3.52%
Not applicable	28	$5,070,000	$181,071	$0	4.27%
Not provided	21	$3,765,000	$179,286	$1,332	3.54%
Asian	10	$1,930,000	$193,000	$2,108	3.14%
Black	21	$1,835,000	$87,381	$1,521	4.61%
Other Asian	1	$225,000	$225,000	$3,503	3.50%
Asian Indian	1	$205,000	$205,000	$68	2.88%
Other Pacific Islander	1	$85,000	$85,000	$96	3.38%
American Indian	1	$45,000	$45,000	$408	3.50%

Approval Rates

Total approvals of all applications
91.39%

Marquette Savings Bank has an average approval rate.

Pick Rate

Approvals leading to origination
90.03%

Marquette Savings Bank has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	923	$132,945,000	$144,036

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	13	$4,335,000	$333,462
Single Family (1-4 Units):Manufactured	15	$1,265,000	$84,333
Single Family (1-4 Units):Site-Built	895	$127,345,000	$142,285

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	93	$5,495,000	$59,086	$471	3.42%
40-60%	129	$15,245,000	$118,178	$1,388	3.44%
60-80%	378	$61,500,000	$162,698	$2,030	3.57%
80-100%	274	$48,840,000	$178,248	$2,686	3.68%
Under 20%	49	$1,865,000	$38,061	$103	3.43%

Complaints

Bank Name	Product	Issue	2020 CPFB Complaints	% of Total Issues
Market Place Mortgage Corp.	Other type of mortgage	Applying for a mortgage or refinancing an existing mortgage	1	100.0%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Marquette Savings Bank	920 Peach Street Erie, PA 16501	Full Service B&M	$243,347
Marquette Savings Bank	953 South Main Street Meadville, PA 16335	Limited, Administrative	$0
Marquette Savings Bank	1075 Park Avenue Meadville, PA 16335	Full Service B&M	$103,661
Marquette Savings Bank	14 North Main St Albion, PA 16401	Full Service B&M	$43,769
Marquette Savings Bank	16272 Conneaut Lake Road Meadville, PA 16335	Full Service Retail	$24,307
Marquette Savings Bank	1775 East 38th Street Erie, PA 16510	Full Service B&M	$61,625
Marquette Savings Bank	209 Plum Street Edinboro, PA 16412	Full Service B&M	$42,176
Marquette Savings Bank	210 Water St. Conneaut Lake, PA 16316	Full Service B&M	$63,746
Marquette Savings Bank	2320 West 12th St Erie, PA 16505	Full Service B&M	$76,883
Marquette Savings Bank	3404 Liberty Street Erie, PA 16509	Full Service B&M	$106,998
Marquette Savings Bank	349 North Street Meadville, PA 16335	Limited, Drive-thru	$0
Marquette Savings Bank	3801 Sterrettania Road Erie, PA 16506	Full Service B&M	$78,167

For 2020, Marquette Savings Bank had 12 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$33,624
Net interest income	$26,772
Total noninterest income	$2,925
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$567
Trading account gains and fees	$0
Additional Noninterest Income	$2,358
Pre-tax net operating income	$6,593
Securities gains (or losses, -)	$107
Income before extraordinary items	$5,862
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$5,862
Minority interest net income	$0
Net income	$5,862
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$5,768

Marquette Savings Bank's gross interest income from loans was $33,624,000.
Marquette Savings Bank's net interest income from loans was $26,772,000.
Marquette Savings Bank's fee based income from loans was $567,000.
Marquette Savings Bank's net income from loans was $5,862,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$6,852
Provision for credit losses	$1,047
Total noninterest expense	$22,057
Salaries and employee benefits	$11,112
Premises and equipment expense	$4,015
Additional noninterest expense	$6,930
Applicable income taxes	$838
Net charge-offs	$452
Cash dividends	$0

Marquette Savings Bank's interest expense for loans was $6,852,000.
Marquette Savings Bank's payroll and benefits expense were $11,112,000.
Marquette Savings Bank's property, plant and equipment expenses $4,015,000.

Loan Performance

Type of Loan	% of Loans Noncurrent (30+ days, end of period snapshot)
All loans	0.0%
Real Estate loans	0.0%
Construction & Land Development loans	0.0%
Nonfarm, nonresidential loans	0.0%
Multifamily residential loans	0.0%
1-4 family residential loans	0.0%
HELOC loans	0.0%
All other family	0.0%
Commercial & industrial loans	0.0%
Personal loans	0.0%
Credit card loans	0.0%
Other individual loans	0.0%
Auto loans	0.0%
Other consumer loans	0.0%
Unsecured commercial real estate loans	0.0%

Deposits

Type	Value (in 000's)
Total deposits	$864,997
Deposits held in domestic offices	$864,997
Deposits by Individuals, partnerships, and corporations	$833,423
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$30,900
Deposits by Commercial banks and other depository institutions in U.S.	$674
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$269,134
Demand deposits	$269,134
Nontransaction accounts	$595,863
Money market deposit accounts (MMDAs)	$190,553
Other savings deposits (excluding MMDAs)	$111,293
Total time deposits	$294,017
Total time and savings deposits	$595,863
Noninterest-bearing deposits	$144,257
Interest-bearing deposits	$720,740
Retail deposits	$825,045
IRAs and Keogh plan accounts	$93,383
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$1,050,889
Cash & Balances due from depository institutions	$25,964
Interest-bearing balances	$24,053
Total securities	$356,993
Federal funds sold & reverse repurchase	$0
Net loans and leases	$597,793
Loan and leases loss allowance	$2,840
Trading account assets	$0
Bank premises and fixed assets	$23,752
Other real estate owned	$293
Goodwill and other intangibles	$3,168
All other assets	$42,926

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$1,050,889
Total Liabilities	$872,995
Total deposits	$864,997
Interest-bearing deposits	$720,740
Deposits held in domestic offices	$864,997
% insured (estimated)	$80
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$7,998

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$597,793
Loan and leases loss allowance	$2,840
Total loans and leases (domestic)	$600,633
All real estate loans	$520,559
Real estate loans in domestic offices	$520,559
Construction and development loans	$11,834
Residential 1-4 family construction	$10,953
Other construction, all land development and other land	$881
Loans secured by nonfarm nonresidential properties	$53,940
Nonfarm nonresidential secured by owner-occupied properties	$39,589
Commercial real estate & other non-farm, non-residential	$14,351
Multifamily residential real estate	$7,808
1-4 family residential loans	$446,801
Farmland loans	$176
Loans held in foreign offices	$0
Farm loans	$409
Commercial and industrial loans	$77,299
To non-U.S. addressees	$0
Loans to individuals	$1,607
Credit card loans	$0
Related Plans	$721
Consumer Auto Loans	$0
Other loans to individuals	$886
All other loans & leases	$759
Loans to foreign governments and official institutions	$0
Other loans	$500
Loans to depository institutions and acceptances of other banks	$0
Loans not secured by real estate	$0
Loans secured by real estate to non-U.S. addressees	$0
Restructured Loans & leases	$249
Non 1-4 family restructured loans & leases	$0
Total loans and leases (foreign)	$0

Marquette Savings Bank had $597,793,000 of loans outstanding in 2020. $520,559,000 of loans were in real estate loans. $11,834,000 of loans were in development loans. $7,808,000 of loans were in multifamily mortgage loans. $446,801,000 of loans were in 1-4 family mortgage loans. $409,000 of loans were in farm loans. $0 of loans were in credit card loans. $0 of loans were in the auto loan category.

Small Business Loans

Categorization	# of Loans in Category	$ amount of loans (in 000's)	Average $/loan
Nonfarm, nonresidential loans - <$1MM	161	$53,474	$332,137
Nonfarm, nonresidential loans - <$100k	44	$1,926	$43,773
Nonfarm, nonresidential loans - $100-250k	55	$7,079	$128,709
Nonfarm, nonresidential loans - $250k-1MM	62	$44,469	$717,242
Commercial & Industrial, US addressed loans - <$1MM	540	$77,299	$143,146
Commercial & Industrial, US addressed loans - <$100k	363	$9,811	$27,028
Commercial & Industrial, US addressed loans - $100-250k	97	$12,362	$127,443
Commercial & Industrial, US addressed loans - $250k-1MM	80	$55,126	$689,075
Farmland loans - <$1MM	4	$176	$44,000
Farmland loans - <$100k	4	$176	$44,000
Agriculture operations loans - <$1MM	4	$409	$102,250
Agriculture operations loans - <$100k	2	$39	$19,500
Agriculture operations loans - $100-250k	1	$135	$135,000
Agriculture operations loans - $250k-1MM	1	$235	$235,000